Telecom Argentina SA (TEO) Sees Large Volume Increase
Shares of Telecom Argentina SA (NYSE:TEO) saw unusually-high trading volume on Monday . Approximately 158,821 shares traded hands during trading, an increase of 32% from the previous session’s volume of 120,218 shares.The stock last traded at $18.52 and had previously closed at $18.62.
TEO has been the topic of several recent analyst reports. Zacks Investment Research raised Telecom Argentina SA from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Tuesday, August 23rd. TheStreet raised Telecom Argentina SA from a “hold” rating to a “buy” rating in a research note on Monday, July 11th. Finally, Morgan Stanley raised Telecom Argentina SA from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $18.00 to $23.00 in a research note on Tuesday, September 6th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $20.28.
The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of 17.03 and a beta of 1.47. The firm’s 50-day moving average is $18.25 and its 200-day moving average is $18.46.
The business also recently disclosed a dividend, which was paid on Friday, September 2nd. Stockholders of record on Thursday, August 25th were issued a $0.455 dividend. The ex-dividend date of this dividend was Tuesday, August 23rd. Telecom Argentina SA’s dividend payout ratio (DPR) is presently 45.45%.
Several hedge funds and other institutional investors have recently bought and sold shares of TEO. James Investment Research Inc. boosted its position in Telecom Argentina SA by 33.6% in the second quarter. James Investment Research Inc. now owns 15,900 shares of the company’s stock valued at $291,000 after buying an additional 4,000 shares during the period. Royal Bank of Canada boosted its position in Telecom Argentina SA by 1,581.4% in the first quarter. Royal Bank of Canada now owns 16,814 shares of the company’s stock valued at $300,000 after buying an additional 15,814 shares during the period. Cambiar Investors LLC bought a new position in Telecom Argentina SA during the second quarter valued at about $372,000. John G Ullman & Associates Inc. acquired a new stake in shares of Telecom Argentina SA during the second quarter worth $374,000. Finally, Emerald Acquisition Ltd. acquired a new stake in shares of Telecom Argentina SA during the second quarter worth $547,000. Institutional investors and hedge funds own 8.50% of the company’s stock.
Telecom Argentina SA Company Profile
Telecom Argentina SA provides fixed-line telecommunications services and other telephone-related services, such as international long-distance service, data transmission, information technology (IT) solutions outsourcing and Internet services. The Company provides mobile telecommunications services and international wholesale services.
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